…The Treasury bills secondary market was quiet, with a bullish undertone, as the average yield contracted by 1bp to 20.8%.
TUE MAY 20 2025-theGBJournal| Nigerian stocks rose on Tuesday alongside Treasury bond average yield, while the Naira breathed against the U.S dollar as investors took stock of the latest Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) decision on interest rate.
The NGX All-Share Index rose 3bps to 109,730.47 points by close of trading session. The Month-to-Date and Year-to-Date returns settled at +3.7% and +6.6%, respectively, while market capitalization jumped to N68. 965 trillion.
Buying interest was major caps like NESTLE (+10.0%) and NB (+4.4%) as FIDELITYBK (-5.0%) and FIRSTHOLDCO (-0.8%) record losses.
The total volume traded increased by 2.3% to 497.06 million units, valued at NGN13.21 billion, and exchanged in 18,795 deals.
FIDELITYBK was the most traded stock by volume at 60.18 million units, while ARADEL was the most traded stock by value at N2.55 billion.
Analyzing by sectors, the Consumer Goods (+2.5%) and Insurance (+1.4%) indices advanced, while the Oil & Gas (-2.9%) and Banking (-0.4%) indices declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was neutral (1.0x), as 31 tickers gained and 31 tickers lost.
NESTLE (+10.0%) and REGALINS (+10.0%) led the gainers, while BERGER (-10.0%) and MBENEFIT (-9.8%) recorded the most significant losses of the day.
At the official FX market, the Naira firmed strongly against the U.S dollar, responding with 0.6% bounce to N,595 from N1, 605 (on Monday) vs the US$1.
At the fixed income market, the Treasury bond secondary market traded with bearish sentiments, as the average yield rose by 1bp to 18.7%.
Across the benchmark curve, the average yield expanded at the short (+2bps) and mid (+1bp) segments, driven by sell pressures on the JUL-2030 (+5bps) and FEB-2031 (+7bps) bonds, respectively.
The average yield closed flat at the long end.
The Treasury bills secondary market was quiet, with a bullish undertone, as the average yield contracted by 1bp to 20.8%.
The average yield across the curve contracted at the short (-1bp), mid (-1bp) and long (-1bp) segments, driven by the demand for 79DTM (-1bp), 170DTM (-1bp) and 338DTM (-2bps) bills, respectively.
Meanwhile, the average yield contracted by 6bps to 26.6% in the OMO segment.
The overnight lending rate contracted by 1bp to 27.0% in the absence of any significant inflows into the system.
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